China adds 10 US firms to export control list, restricts 46 on government procurement

China restricts trading with some US rare earth companies

MP Materials (MP) and USA Rare Earth (USAR) stocks are drawing attention after China tightened trade restrictions on the rare earth companies that play a significant role in U.S. efforts to develop alternative sources of critical minerals used in advanced manufacturing.

China imposed fresh trade restrictions on dozens of U.S. entities on Monday, retaliating against Washington's move to add more Chinese companies to a Pentagon list of businesses it accuses of aiding Beijing's military.

This regulatory move, in accordance with the Export Control Law and relevant regulations on dual-use item exports, was taken to safeguard China’s national security and legitimate interests, and to uphold the country’s international non-proliferation commitments.